Dow Jones

TEL AVIV - Chase Manhattan Bank plans to open a branch in Israel to provide investment and corporate banking services, Mitchell Blutt, executive partner of Chase Capital Partners, told a news conference Thursday.

The branch will focus on serving high-technology corporate clients, but its services will not be limited to that sector, Blutt said.

The official announcement of the branch's opening will be made by the end of July and the actual opening will follow shortly afterwards, he said.

Chase is the fourth major overseas bank to announce plans to open a branch in Israel since Citibank did so in October. The others are HSBC and Bank of America.

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